Elsewhere, I have relayed that I have had a 50% loss twice in my career. Yup. Two different times our accounts lost half their value. If you're fine with losing half your fortune not once but twice, that's fine with me. Idiotic, but fine with me.BTW, if Warren Buffett had followed the herd, as you suggest is the smart thing to do, he wouldn't be a bazillionair today.I dunno. Back in 2009 BRK fell to very close to 50% off the previous high. Then it did nothing for a while, then at the end of 2012 it went on a tear which took it to a new high.In this example, you wouldn't have taken the loss. But you would have been capped out in both of the last two years, so you'd be money behind. BRK is a perfect example why people are skeptical of this strategy.
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